Singapore – Grab has showcased 75 of its homegrown F&B merchant-partners, an increase from 53 the previous year. Since its listing on the Nasdaq in 2021, Grab has been using the billboard space at Times Square to feature some of its merchant-partners who serve millions of consumers across Southeast Asia through the Grab app.
For Grab, being featured on the Times Square billboard was an opportunity for these merchants to be recognised as vital representatives of their communities on an international stage.
It is worth noting that a large number of the six million merchants and partners on Grab are small-to-medium F&B outfits, with 67% of total GrabFood and GrabMart GMV was contributed by MSMEs.
“These merchants-partners typically don’t have the same marketing and advertising budget as larger players, and would not usually advertise outside their home countries,” Grab said in a recent blog regarding the latest version of this initiative.
Some of those merchants being featured include Philippines-based fruit brand Prutasan ni Adan, Malaysia-based soy sauce chicken restaurant Nasi Ayam Kee Chup, Singapore-based DIY sushi and salad chain Maki-San, and Thailand-based bakery HAAB.
Illinois, USA – Global food companies Mars and Kellanova have announced that they have entered into a definitive agreement under which Mars has agreed to acquire Kellanova for US$83.50 per share in cash, for a total consideration of US$35.9b, including assumed net leverage.
Mars intends to apply its brand-building approach to further nurture and grow Kellanova’s brands, including accelerating innovation to meet evolving consumer tastes and preferences, investing locally to expand reach and introducing more better-for-you nutrition options to meet evolving consumer needs.
Kellanova is home to iconic snacking brands including Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, NutriGrain and RXBAR, as well as cherished food brands including Kellogg’s (international), Eggo and MorningStar Farms.
Kellanova’s portfolio complements the existing Mars portfolio, which includes billion-dollar snacking and confectionery brands like Snickers, M&M’s, Twix, Dove And Extra, as well as Kind and Nature’s Bakery. Mars also has 10 pet care brands including Royal Canin, VCA, Pedigree, Banfield, Whiskas, Bluepearl, Cesar, Sheba, Anicura And Iams.
Poul Weihrauch, CEO and office of the president of Mars, Incorporated, said, “In welcoming Kellanova’s portfolio of growing global brands, we have a substantial opportunity for Mars to further develop a sustainable snacking business that is fit for the future. We will honor the heritage and innovation behind Kellanova’s incredible snacking and food brands while combining our respective strengths to deliver more choice and innovation to consumers and customers. We have tremendous respect for the storied legacy that Kellanova has built and look forward to welcoming the Kellanova team.”
Meanwhile, Steve Cahillane, chairman, president and CEO of Kellanova, commented, “This is a truly historic combination with a compelling cultural and strategic fit. Kellanova has been on a transformation journey to become the world’s best snacking company, and this opportunity to join Mars enables us to accelerate the realization of our full potential and our vision. The transaction maximizes shareholder value through an all-cash transaction at an attractive purchase price and creates new and exciting opportunities for our employees, customers, and suppliers.”
He added, “We are excited for Kellanova’s next chapter as part of Mars, which will bring together both companies’ world-class talent and capabilities and our shared commitment to helping our communities thrive. With a proven track record of successfully and sustainably nurturing and growing acquired businesses, we are confident Mars is a natural home for the Kellanova brands and employees.”
Toronto, Canada – Restaurant Brands International (RBI) has announced two new investments to drive growth in China. The first one includes the acquisition of Popeyes China, and the co-investment with Cartesian Capital into the business of TH International Limited, which operates Tims China.
The two transactions reflect RBI’s confidence in China, one of the largest QSR markets globally, and its commitment to drive growth in the market. RBI’s total amount of capital outlay will be up to US$45m for the two transactions.
First off, RBI has agreed to acquire the Popeyes China business from Tims China on a cash-free debt-free basis based on an enterprise value of US$15m. Following the transaction, RBI will own and operate Popeyes China, which opened its first restaurant in August 2023 and has 14 restaurants in Shanghai today.
The pace of restaurant growth is expected to ramp up through investments in local teams and restaurant development. Longer-term, RBI expects to bring on local partners to form a more traditional master franchisee, similar to other Popeyes international markets.
Meanwhile, to help fuel the growth of Tims China, Cartesian Capital and RBI agreed to invest up to US$50m of capital into the Tims China business via three-year convertible notes, of which US$40m will be issued at closing with the balance funded over the coming 7 months, subject to certain operational and financial conditions.
Of the total, US$20m were issued to Cartesian and up to US$30m will be issued to RBI, including US$20m at close. Following the transaction, RBI will effectively have the right to appoint two directors to the Tims China Board and will see its equity ownership in the business increase to up to 18%, on an as converted basis. The RBI team will continue to work closely with the Tims China management team and Board to drive growth in one of the fastest growing coffee markets in the world.
Rafael Odorizzi, president of Asia-Pacific at RBI said, “China is one of the most compelling long-term market opportunities for both our Popeyes and Tim Hortons brands. Popeyes China is off to a strong start and we are excited to unlock its development potential in one of the largest chicken QSR markets globally. Today’s announcement allows Tims China to redouble its focus on quality restaurant development and providing Chinese consumers with our high quality Tims coffee and food offerings.”
Singapore – Nestlé Professional has unveiled its latest initiative aimed at transforming the way it engages with food-service operators. The newly inaugurated Customer Engagement Centre (CEC) in Singapore is a testament to Nestlé’s commitment to the F&B and hospitality businesses, positioning itself as a comprehensive solutions provider.
The CEC stands out in bringing in-depth industry knowledge, expertise in food services and an extensive F&B and hospitality portfolio. Helmed by Nestlé Professional’s in-house chef and barista, and alongside association partners, they aim to address key industry challenges while serving the evolving needs of their clientele.
These challenges include a constant drive for sustainable practices, solutions for manpower challenges, and steps toward increased overall operational efficiencies delivered by innovative on-trend concepts.
Moreover, the opening of Nestlé Professional’s new CEC marks a significant shift from selling products to actively contributing to the growth and improvement of F&B and hospitality businesses in Singapore.
The new CEC is designed to resemble a café, where partners and affiliates can book an appointment for tastings and demonstrations to better understand the myriad of F&B offerings and solutions provided by Nestlé Professional. This includes product and machine demonstrations where product training, tailored applications, creative menu development, and recipe ideas are offered to meet unique business needs.
Paul Nagelkerken, country business manager at Nestlé Professional, said, “By creating a space that fosters collaboration and innovation, Nestlé Professional is poised to play a pivotal role in assisting the F&B industry in Singapore. This strategic initiative aligns with the company’s commitment to exceed the expectations of our customers, providing them with the concepts, tools and expertise needed to thrive in a dynamic and competitive market.”
Hong Kong – Beverage company Vitasoy has unveiled its latest ‘For Me, For You, Vitasoy’ campaign that ignites the spirit of empathy and communal care in the new era.
The campaign, done in collaboration with BBDO Greater China, features two short digital films that explore interpersonal relationships between a mother and a daughter and brothers as they offer support to encourage the other one to pursue their chosen path.
Vitasoy is highlighted in the film as a sign of their support, with it being given by their loved ones before they face another journey to their dreams. The new campaign takes a more holistic approach to celebrating the brand’s role in providing not only physical nourishment but also emotional well-being.
With this, Vitasoy underscores their decades-worth of commitment to nurturing the younger generation, providing them with nutrition, encouragement, and reassurance as they navigate their chosen career paths and traverse their personal journeys.
The brand’s new campaign acknowledges the profound significance of today’s diverse and complex society, where individuals embark on their own distinctive journeys, encountering obstacles and pursuing their dreams.
As a way to amplify the message of the campaign, the brand also featured the iconic song ‘Stand By Me’ by Ben E. King, along with the captivating narratives in the short films. This is also Vitasoy’s way to pay homage to their Stand By Me campaign in the past.
The campaign is now available in the Hong Kong and China markets.
David Kim, group chief marketing and strategic business development officer of Vitasoy, said, “At Vitasoy, we believe that true care goes beyond just nutrition. Vitasoy’s latest campaign, in partnership with BBDO and renowned director David Tsui, beautifully merges the timeless essence of our iconic brand with fresh innovation.”
“This initiative is about celebrating young talents and unwavering support for dreams, which encapsulates Vitasoy’s deep-rooted commitment to cherishing its community and supporting the next generation for a future filled with promise and possibility,” he added.
Commenting on the campaign, Arthur Tsang, chief creative officer at BBDO Greater China, also said, “In an era saturated with formulaic commercials, it is truly invigorating to return to the art of storytelling and craft a brand video that transcends time.”
“While the settings may be contemporary, the emotions evoked are reminiscent of a comforting embrace from a dear old friend. Our aim was to revive the deep emotional connection of a brand that has woven itself into the very fabric of our community,” he added.
Kuala Lumpur, Malaysia – In terms of which brands in the Malaysian market lead the seasoning, dressings and sauces market, they would be Nestle, Lee Kum Kee and Mars Incorporated. This is according to the latest data released by global data and analytics company GlobalData.
According to the report, the Malaysian seasonings, dressings and sauces market is projected to grow from MYR2.2b (US$527.4m) in 2021 to MYR2.7b (US$664m) by 2026 at a compound annual growth rate (CAGR) of 4.5% over the five-year period of 2021 to 2026.
It also noted that the per capita expenditure on seasonings, dressings and sauces in Malaysia increased from US$6.4 in 2016 to US$7.8 by 2021, and is further forecast to reach US$9.4 by 2026, which will be higher than the regional average of US$9.1, and lower than the global average of US$13.8.
In terms of where these products are distributed, hypermarkets and supermarkets were the leading distribution channel in the Malaysian seasonings, dressings and sauces sector in 2020, followed by convenience stores, and F&B specialists.
For Siddhartha Rodrigues, consumer analyst at GlobalData, the rise in home cooking since the onset of COVID-19 is driving the demand for seasonings, dressings and sauces, which serve as cooking sauces, table sauces, and as ready-to-consume table dips. He added that consumers are looking for high quality products in convenient formats that can easily endow the flavour of restaurant-quality dishes to home-cooked meals and snacks
“As the pandemic wanes, consumers are poised to venture out of their homes more frequently. Owing to their hectic lifestyles, young consumers are seeking healthier seasonings, dressings & sauces with novel flavours in convenient formats that can help them reduce the time spent in preparing and cooking dishes at home,” he said.
Rodrigues added, “They are seeking traditional and innovative flavours that can elevate the taste of home-cooked dishes and snacks and enhance the overall at-home consumption experience. Manufacturers need to expand their product portfolio with multiple flavours to meet the varying demands of consumers.”
Manila, Philippines – Tealive, Southeast Asia’s leading lifestyle tea brand, has announced its market expansion to the Philippines, and has appointed Mike Dumaual as its general manager.
Born in 2017, Tealive has quickly grown to over 700 outlets worldwide. With the establishment of the brand’s first store in Manila, specifically at SM Jazz Mall in Makati, Tealive is ready to serve Filipinos with their own milk tea lineup, leading with Tealive’s signature Aren Palm Sugar Series.
In a statement to MARKETECH APAC, Dumaual said that in his role as Tealive’s country general manager, he will be focusing on store network expansion and brand development to aggressively grow the brand.
Dumaual was recently the marketing director of Mang Inasal, a barbecue fast food chain under the Jollibee Foods Corporation (JFC) portfolio. He told MARKETECH APAC that in his many years working in the QSR industry, trends have changed regarding how the industry moves.
“The biggest change would be the pivot from on-premise transactions (i..e, dine-in) to off-premise transactions (i..e, delivery, self pick-up, etc). So, for a business to survive, they have to be present in all channels,” he said.
Speaking about his appointment, Dumaual said, “I’m truly excited to lead Tealive’s grand entry into the Philippine market, knowing how milk tea-crazy this country is. The ambition is not just to make it a milk tea player but a major and respected F&B lifestyle brand that Filipinos will love.”
He also told MARKETECH APAC, “The opportunity is that customers can now decide anywhere on what to drink/eat, so the brand must be ready to take advantage of that opportunity by adopting an omnichannel approach that caters to the current needs of the market where speed and convenience are critical.”
Jakarta, Indonesia – Kopi Kenangan, a local-based retail F&B chain known for its coffee products, has recently concluded its series C funding amounting to US$96m, officially making it unicorn. Said funding will help the company accelerate the expansion of its new brands, Cerita Roti, Chigo and Kenangan Manis across Indonesia, and will continue to build the network and broaden its footprint internationally.
The funding round was led by Tybourne Capital Management, with participation from existing investors including Horizons Ventures, Kunlun, and B Capital, and new investor Falcon Edge Capital. The funding round comes as Kopi Kenangan is seeing strong domestic demand for its expanded product offerings such as its bread brand Cerita Roti, its ‘chicken on the go’ brand Chigo, and soft-cookies brand Kenangan Manis, as well as the continued rapid growth of its home-grown coffee brand including the latest topping addition, Sultan Boba.
The company, founded in 2017, targets the gap in the market in Indonesia between the high-priced coffee served at international coffee chains and the instant coffee sold in the country’s many street stalls. Customers are offered the convenience of ordering through an app and either having coffee delivered to their doorstep or picking it up at one of Kopi Kenangan’s many stores across the country.
Edward Tirtanata, co-founder and CEO at Kopi Kenangan, said, “The continuing support of our investors, as well as the new backers in this funding round, is a testament to our continued focus on increasing store productivity and using technology to create the best user experience for our customers.”
He added, “Our mission is to be the most-loved consumer brand in Southeast Asia and, as part of our five-year vision, we remain committed to rapidly expanding our footprint to thousands of stores across Southeast Asia and broadening our offerings.”
Manila, Philippines – The pandemic has resulted in various consumer behavior changes, including the boost of the food and grocery delivery platforms, including the superapp Grab. According to their latest study with NielsenIQ, more F&B brands are giving food delivery a shot, with the number of monthly active merchants in GrabFood increasing by 60% in 2020.
As a leading delivery operator of F&B brands, Grab unveils its awards body for recognizing top-performing partner merchants in the Philippines, called ‘Golden Grab Awards 2021’ which was recently held virtually for the first time, celebrating its best-performing GrabFood and GrabMart merchant-partners.
The award categories are a mix of data-driven and people’s choice awards, and are split in three categories: Sale Superstars, Merchant Congeniality, and Golden Cart. These awards celebrated the best of GrabFood’s merchant-partner rookies, best curated menus, top-performing merchants for every meal, best-rated merchants, and many more.
For the Sales Superstars Awards, some of the awards granted are creatively named after the various meal time occasions. In this instance, Breakfast Champs’ or catered to breakfast, is awarded to Starbucks and to Conti’s Bakeshop and Restaurant; ‘Lunch Leaders’ or for lunch time are awarded to popular fast-food franchises Jollibee and Mang Inasal; ‘Merienda Masters’ for afternoon snack time are awarded to S&R New York Style Pizza and Angel’s Pizza; while ‘Dinner Dash’ for dinner deliveries are awarded to fast-food chains Chowking and KFC; and ‘Midnight Munchies’ for late-night snackage are awarded to McDonald’s and Army Navy Burger + Burrito.
Other ‘Sales Superstars Awards’ include ‘Promo Masters’ for Shakey’s Pizza and Monicar General Merchandise, ‘GrabAds Guru’ for Mary Grace Cafe and Kenny Rogers Roasters, ‘Campaign King’ for Selecta Ice Cream Shop (GrabFood) and Robinsons Supermarket Corporation (GrabMart), and ‘Data Dynamo’ for Picabean Coffee House (GrabFood) and DRTM Store (GrabMart)
Meanwhile, the Merchant Congeniality Awards are awards given out to partner-merchants that show satisfactory performance on their operations, ranging from delivery efficiency, menu diversity, and hygiene standards. The awards are as follows:
Menu Maven-Blake’s Wings & Steaks (GrabFood), Ever Supermarket (GrabMart)
Staff Salute Award-Classic Savory – SM City Las Pinas
Lastly, the Golden Cart Awards are as follows:
Golden Grab Rider-Partner-Wendell Fajardo Songco
Top Trender Award-Andok’s Litson Baka
Golden Merchant Badge-Big Al’s Cookie Jar
Eager Expander Award-Pan de Manila
Long Distance League Award-Samgyupsmile Delivery – Molino 3
“Through this celebration, Grab continues to support the growth of its merchant-partners whose partnership with the superapp has been integral in its commitment to providing Filipinos with everyday essentials,” the company said in a press statement.
They added, “In the times of limited or restricted movement, Filipinos have come to rely on online food and essentials delivery services providers such as GrabFood and GrabMart. As the country eases back on quarantine restrictions, Grab, a leading superapp in Southeast Asia, does not fail to recognize the merchant-partners who have been integral to these services.”
Singapore – In one of Asia’s largest virtual brands partnership, online food and grocery delivery platform foodpanda and Indian restaurant company Rebel Foods have partnered to roll out Rebel Foods’ flagship brands and new jointly-created offerings in more than 2,000 outlets within Asia through an initial five-year partnership, starting in six markets.
Through the partnership, Rebel Foods will extend its culinary works, standard operating procedures and food tech innovations to F&B outlets in Asia through foodpanda. With a brands-as-a-service (BaaS) model, the partnership allows foodpanda’s restaurant partners to easily plug-and-play Rebel Foods iconic brands to grow additional revenue streams.
Meanwhile, foodpanda enables hundreds of thousands of restaurant partners and cloud kitchen operators to plug-and-play virtual brands into their current operations to grow additional revenue streams, at little to no start-up costs.
“This foodpanda-Rebel Foods partnership introduces a new digital-first F&B format to Asia. foodpanda is always seeking new, innovative ways to change the way F&B businesses operate in a hyper-digitalised economy — we want to push our ecosystem further into the future,” said Pedram Assadi, COO at foodpanda.
He added, “Most importantly, these virtual brands will give our restaurant partners, especially SMEs, new opportunities to earn additional revenue.”
In the first phase of the partnership, which began in December 2019, Rebel Foods introduced four brands across six markets — Singapore, Malaysia, Bangladesh, Thailand, Hong Kong and the Philippines through the foodpanda network.
“Over the years, we have built some category leading brands in its current markets and a full-stack operating system which integrates culinary expertise, efficient SOPs and technological innovations together. We are glad to partner with foodpanda and scale our iconic brands with localized offerings across their network in Asia”, said Kallol Banerjee, co-founder at Rebel Foods.
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